Is USDC’s Billion Dollar Growth A Sign Crypto Smart Money Is Ditching Tether?

The almighty Tether that currently nears closer to $15 billion in market cap, finally has a contender on its hands with USD Coin. Although the Tether supply recently minted this past month eclipsed USD Coin’s entire market cap, USD Coin has been creeping up higher along the cryptocurrency top coins by market cap.

BTCUSD Daily Price Chart Versus Tether and USD Coin Market Cap Growth | Source: TradingView Tether Trouble: Why Would Smart Money Be Ditching USDT For USDC Instead? While USD Coin is backed by the likes of Coinbase and Circle, Tether’s parent company is the same as Bitfinex, and the two have been surrounded with controversy for the last several years of crypto market price action.

Timeline of Tether, Usd-coin